Prostitution is considered as misdemeanour or a “lesser” criminal act in almost all United States except Nevada, where the state government allows licensed brothels.
The police investigate and arrest persons involved in prostitution, even FBI glorifies itself from time to time while fighting against interstate prostitution.
A proper examination and understanding of the activity of prostitution and its prohibition explains that prohibiting or il-legalizing prostitution is a wrong step causing wastage of resources, reducing the quality of life and the individual liberty in the society. Continue reading

Consumerism is the principle of Free Market, which states, “free choice of consumer should rule the market, or, the consumer decides the economic structure of the society“. Producers and providers bring their products to the market and make it certain that consumers, the public, may gain enough knowledge about their product so that, if the consumer decides that the particular product is good, they may buy it.
To spread the knowledge of their product, producers advertise and apply proper marketing strategies. The consumer remains free either to accept the product and buy it, or to reject it at certain price.
Now days, producers are delivering good attractive services, better comfortable products and advanced technologies in the market. Some people claim that all this advancement is redundant and nobody needs it. Continue reading

Man is a rational being by nature; he strives for comfort, well-being, prosperity, progress, security and happiness using his intellectual and physical talents for his proper benefits. Nature created man for a social set-up. His natural necessities remained greater than his individual capacities to fulfil his wants. No one individual is capable enough to supply his own demands without the help of others. He cannot fulfil his wants without the aid of society and those wants, which acts upon every individual drives the whole of them into society. Furthermore, man is naturally selfish, as to fulfil his wants and to pursue his happiness, he is dependent on the reciprocating aid of the society, and he naturally tends to feel affection towards the social set-up, which is necessary for his pursuit of happiness and secured life. Without the aid of society, one may survive, but he cannot be happy and he cannot prosper, that is why, there is no time in a man’s life when his love for the society ceases to act. A man remains a social being throughout his life; society begins and ends with our being. Continue reading

The society considers income inequality as a curse upon itself. In a general argument between a ‘Capitalist’ and a ‘Socialist’, or a ‘Liberal’ and a ‘Conservative’, generally the Socialist/Liberal individual accuses free market or Capitalism of creating economic inequality in the society. A general example given is of US society where top 1% of the people own 40% of the wealth in US(or a variation of the statistics). This makes the people who stand for free market and capitalism generally go on a defensive by either attacking the statistics, or by comparing the worst person in a ‘seemingly’ capitalist society like United States being better than most average or well rich individuals in a seemingly socialist or an equal society like North Korea and Cuba. Continue reading

“Concentrated power is not rendered harmless by the good intentions of those who create it.” -Milton Friedman
One may wonder what the great economist Milton Friedman was thinking while he uttered those words. May be he was thinking of the ill-effects of price controls and how does price control causes shortage and hence excruciating conditions for the most poor men of society. He might be thinking of the ill-effects of socialized medicines, or may be he was thinking about the irrationality of minimum wage law and the manner that the very intention of improving the living conditions of poor workers actually condemns many to acute poverty and unemployment.
Minimum Wage Law in India Continue reading

The skyrocketing prices of common commodities is becoming the main political issue around which, the BJP is trying to make their case against Congress lead government. It is true that government is responsible to the price rise, but can government control the prices or the price rise?
It is a common myth that producers, hoarders, speculators and dealers control the prices and tries to bring the prices as high as possible to make maximum profits at the expense of poor consumers who have no choice but to be exploited by such corrupt speculators, hoarders and dealers. It is certainly an irrational myth because to make maximum profits in a competitive market, the speculators, hoarders and dealers need to adjust selling their commodities at the minimum possible prices.
Who Decides the Prices? Continue reading

The only practicable solution to remedy the problem of poverty is undoubtedly the increase in productivity of individuals, workers and the market as whole. As productivity of individual workers and the market depends on the rate of technical advancement, inventions and innovations in the process of production, the most fundamental necessity to eradicate poverty is to provide a system for maximum possible technical advancement, inventions and innovations.
A free society working on laissez-faire free market capitalism provides the impetus to continuous economic progress by means of the profit motive that acts as the agent of continuous progress in production. Continue reading

Often the politicians assume that it is their responsibility to provide certain services like health care or education for the needy on behalf of the compulsory tax collected from the common citizen. Thus, they propose the single payer socialized Universal Health Care System or Universal Education System with the theme of Education for All, where everybody is free to take free advantages of the medical care or education system, while government pays for the cost of it. The general intention of such politicians who exhort such an idea is to gain the public vote; it is nothing different than bribing the voters monetarily in order to get their votes to make a government. Continue reading

In absence of central planning and governmental interventions, the production remains in the hands of independent, self-interested, profit-seeking individuals.
In absence of forced laws and regulations, the independent self-interested producers follow the natural laws of market that brings the uniformity and systematically accelerated progress in the free society where the wastage of resources reaches to minimum and overall production tends to reach to maximum and hence the common ills of collectivism such as extreme poverty, unemployment, class differences etc gets the proper remedies in the individualistic, free-society systems.
Whenever government intervenes in such a society by means of central planning and interventionism, the chain of progress breaks and the retardation takes place that brings the common ills of collectivism back to the frame. Continue reading

Mixed economy, also known as “Planned” or “Regulated” economy is the middle vice between freedom and totalitarian slavery. The mainstream economists supporting Interventionism often exhorts that they do not intend to enforce totalitarian slavery against freedom; rather they are regulating the freedom. However, it is not the intentions but the end results, which decide the success or failure of an organized system.
In an economic system as long as only certain means of productions are controlled by the government or municipalities, the nature of market economy determining economic activities remains unchanged. Continue reading